NanoString Technologies Inc (NASDAQ:NSTG) Given Consensus Rating of “Hold” by Analysts

Shares of NanoString Technologies Inc (NASDAQ:NSTG) have been assigned a consensus recommendation of “Hold” from the four research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $35.00.

A number of equities analysts have issued reports on the company. Zacks Investment Research raised NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub lowered NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Finally, ValuEngine lowered NanoString Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

NASDAQ NSTG traded up $0.27 on Tuesday, reaching $21.98. The company had a trading volume of 120,418 shares, compared to its average volume of 516,873. The firm has a market capitalization of $753.19 million, a PE ratio of -7.91 and a beta of 1.19. NanoString Technologies has a 1 year low of $13.26 and a 1 year high of $34.78. The firm has a 50-day moving average of $22.71 and a 200-day moving average of $26.12. The company has a debt-to-equity ratio of 1.27, a current ratio of 5.21 and a quick ratio of 4.76.

NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings results on Wednesday, July 31st. The biotechnology company reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.02). NanoString Technologies had a negative return on equity of 118.03% and a negative net margin of 68.16%. The company had revenue of $30.35 million during the quarter, compared to analysts’ expectations of $29.00 million. As a group, sell-side analysts expect that NanoString Technologies will post -2.35 EPS for the current fiscal year.

In related news, Director William Young sold 24,125 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $25.29, for a total transaction of $610,121.25. Following the sale, the director now directly owns 54,125 shares of the company’s stock, valued at approximately $1,368,821.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles P. Waite, Jr. sold 1,707 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $21.75, for a total value of $37,127.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,878 shares of company stock worth $3,085,098. 5.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System raised its position in shares of NanoString Technologies by 133.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 23,785 shares of the biotechnology company’s stock valued at $722,000 after acquiring an additional 13,610 shares in the last quarter. ARK Investment Management LLC raised its position in shares of NanoString Technologies by 1.4% during the 2nd quarter. ARK Investment Management LLC now owns 3,526,095 shares of the biotechnology company’s stock valued at $107,017,000 after acquiring an additional 49,569 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of NanoString Technologies by 101.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 946,219 shares of the biotechnology company’s stock valued at $28,718,000 after acquiring an additional 477,313 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of NanoString Technologies by 6.6% during the 2nd quarter. Acadian Asset Management LLC now owns 275,681 shares of the biotechnology company’s stock valued at $8,367,000 after acquiring an additional 16,992 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of NanoString Technologies by 26.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 227,245 shares of the biotechnology company’s stock valued at $6,898,000 after acquiring an additional 47,236 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

NanoString Technologies Company Profile

NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.

Further Reading: Momentum Indicators

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